Overcoming the resistance

By GG Analyst in Reviews 0 Comment

EUR/USD

Against our expectations, yesterday proved to be quite a busy day. The initial impulse to sell the euro has been quickly played out and then followed by purchases of the currency starting at 1.2870. In the mid of the US session EURUSD rose to 1.2870 at some point and during trading in Asia today almost hit 1.2880. Yet, the growth impulse is almost exhausted. Most commentators attribute appreciation of the pair to the selling pressure in the dollar, which was caused by the poor Manufacturing PMI data  from ISM. Against the expected preservation, the growth rate slowed down in March. The more…

EUR drift

By GG Analyst in Reviews 0 Comment

EUR/USD

The single currency keeps drifting down. The periods of consolidation are followed by sales. Now, when most exchanges are closed for the Catholic Easter, the market, most likely, will trade sideways. The week promises to be quite eventful, despite today’s lull. EURUSD is again at the local lows, below 1.28. Now it is trading at 1.2780, while last week’s low was 1.2750. It’s unlikely that slack trading in a few markets will provoke the break of this support. The currency markets in such days may be very volatile should some extraordinary events occur. But in the absence of such events currencies more…

A slack bounce of EUR

By GG Analyst in Reviews 0 Comment

EUR/USD

Opening of banks in Cyprus let the single currency heave a sigh of relief yesterday. No doubt, the euro grew mainly on positive sentiments, nothing more. There are still no reasons to believe that tomorrow things will be better than yesterday. Purchases of the single currency were supported by the inclination to take profits from the previous drop. Yet the bulls didn’t manage to push the currency far from the four-month lows. EURUSD was growing to 1.2840, but now is again hovering at 1.2800. We shouldn’t expect any volatility in the markets  today, as most of them are closed for the more…

EUR is under its 200-day MA due to new troubles at the periphery

By GG Analyst in Reviews 0 Comment

EUR/USD

Italy is trying to form a coalition government and this is a new problem for the euro. Yesterday the currency once again hit a fresh four-month low against the dollar on the news that the leader of the party which won last month’s elections, Bersani, promised to appoint Berlusconi as head of the committee for reforms. If you remember, the need for reforms was exactly the reason why Berlusconi had been forced to resign the post of the country’s prime-minister in 2011. This news and other statements about problems with creation of the coalition government caused much anxiety in the markets, more…

A very boring Tuesday

By GG Analyst in Reviews 0 Comment

EUR/USD

Yesterday ended in nothing for the markets and especially for the euro. EURUSD remained close to 1.2850, where it was at the beginning of Tuesday. Partly it was due to a very scanty news background. Neither Cyprus nor other troubled periphery countries didn’t bring any bad news, but still the euro zone has nothing to be happy about. Similar balance is also observed in the USA. But as has already been mentioned, there it is at a much higher level. The only interesting news yesterday was the US Durable Goods Orders. Thanks to the transport sector the volume of durable goods more…